Nice one Joe!
We calculated our overheads based on standard expenditure costs
including rent (at £399/month at Duke Studios); software - Adobe
Creative Suite, MS Office and various studio equipment, travel and
research costs and so on.
Based on an initial £25,000 salary for year 1 (£17,127 after national
insurance and income tax), our annual income required is £100,000
alongside the total overhead costs of £17609.05. Using these values, and
based on 244 available work days, our minimum daily charge rate as
'Craft' is £482.
As we intend to make a profit in the first year to account for various
contingency costs (including small business loans and dividends), our
actual daily charge rate is £600. This will provide an annual pre-tax
profit of £28,792 and a total net profit of £23,033.60. However, the
amount we can charge can be anything above £482.
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